Trading Limits - BIMCO
Trading Limits - BIMCO
Trading Limits - BIMCO
Here again, aim at precision. “Baltic in season” may mean different things to different people. What may appear crystal clear at the time of fixing may create difficulties when the
time comes to implement it.
In early 2000, the Institute of Chartered Underwriters, London revised the Institute Warranty Limits (IWL) and with effect from 1 November 2003, these limits are now referred to as
International Navigating Limits (INL).
Area 1 - Arctic
(a) North of 70° N. Lat.
(b) Barents Sea
Except for calls at Kola Bay, Murmansk or any port or place in Norway, provided that the vessel does not enter, navigate or remain North of 72° 30’ N. Lat. or East of 35° E. Long.
Area 3 - Baltic
(a) Gulf of Bothnia North of a line between Umea (63° 50’ N. Lat.) and Vasa (63° 06’ N. Lat.) between 10 December and 25 May.
(b) Where the vessel is equal to or less than 90,000 DWT, Gulf of Finland East of 28° 45’ E. Long. between 15 December and 15 May.
(c) Vessels greater than 90,000 DWT may not enter, navigate or remain in the Gulf of Finland east of 28° 45’ E. Long. at any time.
(d) Gulf of Bothnia, Gulf of Finland and adjacent waters North of 59° 24’ N. Lat. between 8 January and 5 May, except for calls at Stockholm, Tallinn or Helsinki.
(e) Gulf of Riga and adjacent waters East of 22° E. Long. and South of 59° N. Lat. between 28 December and 5 May.
Area 4 - Greenland
Greenland territorial waters.
Area 8 - Kerguelen/Crozet
Territorial waters of Kerguelen Islands and Crozet Islands.
As a matter of course, check whether there is coherence between the trading limits in your insurance policy and the trading limits contained in the time charter party.
Acceptance of clauses entitling the charterers to break INL may result not only in damage to the vessel, but also in idle time during repair periods. If circumstances dictate that
owners feel they should agree to allow charterers to breach INL make sure that adequate provisions in the contract cover not only the cost of repairs, but also the time used for
such repairs.
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